Investing.com - Most Asian stocks climbed Thursday after the Bank of Japan said it will maintain a USD1 trillion asset-buying program while keeping interest rates unchanged.
In Asian trading Thursday, Japan’s Nikkei 225 added 0.72% on speculation BoJ will expand asset-buying when a new governor is appointed in the second quarter. That speculation was stoked after Japan’s fourth-quarter GDP reading showed a contraction of 0.04%. Economists expected growth of 0.04% in the world’s third-largest economy.
USD/JPY rose after former Bank of Japan Deputy Governor Kazumasa Iwata, who is believed to be a possible contender to become the central bank’s next leader, said an exchange rate of 90 to 100 for the pair would be acceptable. It was widely expected that BoJ would not change interest rates or announce new easing measures today.
Hong Kong’s Hang Seng jumped 0.94% after being closed for the first three days of this week. The Shanghai Composite remained close for Chinese New Year festivities. Markets in Taiwan and Vietnam are also closed.
Australia’s S&P/ASX 200 Index added 0.7% and extend its bullishness following strong earnings and a favorable consumer sentiment report delivered on Wednesday.
New Zealand’s NZSE 50 rose 0.42% after a report released by Business New Zealand and the Bank of New Zealand said the country’s PMI for January climbed to 55.2 from a revised 50.4 in December. Readings above 50 signal expansion.
In another report, ANZ Bank New Zealand Ltd. and Roy Morgan Research said New Zealand’s consumer confidence reading for February rose 121, the best reading since June 2010. Those data points helped lift the Kiwi to multi-year against the Aussie and U.S. dollars.
Elsewhere, South Korea’s Kospi fell 0.06% while Singapore’s Straits Times Index slipped 0.17%. S&P 500 futures added 0.03%.
In Asian trading Thursday, Japan’s Nikkei 225 added 0.72% on speculation BoJ will expand asset-buying when a new governor is appointed in the second quarter. That speculation was stoked after Japan’s fourth-quarter GDP reading showed a contraction of 0.04%. Economists expected growth of 0.04% in the world’s third-largest economy.
USD/JPY rose after former Bank of Japan Deputy Governor Kazumasa Iwata, who is believed to be a possible contender to become the central bank’s next leader, said an exchange rate of 90 to 100 for the pair would be acceptable. It was widely expected that BoJ would not change interest rates or announce new easing measures today.
Hong Kong’s Hang Seng jumped 0.94% after being closed for the first three days of this week. The Shanghai Composite remained close for Chinese New Year festivities. Markets in Taiwan and Vietnam are also closed.
Australia’s S&P/ASX 200 Index added 0.7% and extend its bullishness following strong earnings and a favorable consumer sentiment report delivered on Wednesday.
New Zealand’s NZSE 50 rose 0.42% after a report released by Business New Zealand and the Bank of New Zealand said the country’s PMI for January climbed to 55.2 from a revised 50.4 in December. Readings above 50 signal expansion.
In another report, ANZ Bank New Zealand Ltd. and Roy Morgan Research said New Zealand’s consumer confidence reading for February rose 121, the best reading since June 2010. Those data points helped lift the Kiwi to multi-year against the Aussie and U.S. dollars.
Elsewhere, South Korea’s Kospi fell 0.06% while Singapore’s Straits Times Index slipped 0.17%. S&P 500 futures added 0.03%.